India equity benchmarks end week flat as earnings counter global jitters

BENGALURU: Indian equity benchmarks inched higher on Friday to end the week little changed as earnings optimism in IT and state-owned banks provided some support, but concerns around a U.S. trade deal and persistent foreign fund outflows kept up the pressure.

The Nifty 50 rose 0.11% to 25,694.35, while the Sensex added 0.23% to 83,570.35.

For the week, Nifty rose 0.04% and Sensex fell 0.01%. Broader market advanced, with the small-cap and mid-cap indexes rising 0.5% and 0.2%,

respectively.

“The initial set of earnings has been better than the subdued expectations. However, unless geopolitical risks ease or there is clarity on a trade deal with the U.S., markets are unlikely to see a sustained directional move,” said Pankaj Pandey, head of retail research at ICICI Securities.

IT stocks led the gainers on Friday, jumping 3.3% and adding 2.8% for the week. Better-than-expected earnings from Infosys, HCLTech and Tata Consultancy Services supported sentiment.

Infosys, India’s second-largest software exporter, rose 5.6% and posted its biggest single-day gain in eight months on Friday, after upgrading its revenue forecast.

Metals gained 4.6% this week, tracking a surge in global metal prices on supply concerns.

State-owned banks climbed 4.8%.

Union Bank of India and Central Bank of India were among the top gainers after reporting strong quarterly earnings and improvements in asset quality.

Investor sentiment remained cautious amid uncertainty over the timing of an India–U.S. trade agreement.

Foreign investors have sold $2.1 billion worth of Indian equities so far in January, even as the global AI-led rally pushed Asian stocks to record highs.

Investors will react to earnings from Reliance Industries, Wipro, HDFC Bank and ICICI Bank on Monday.